20 May 2011
If cash/bank is not a taken over asset, would it be taken into Realisation A/c? The confusion is that in some questions, it is taken in the Realisation A/c while in some, it is not taken into realisation; and instead, a cash/bank a/c is opened with the opening balance. Please Help.
02 June 2011
If the asset is not taken over a separate account should be opened may it be a cash account or any other asset. Moreover, I think ur confusion is why in some questions separate account is opened & why in some it is not I think that it is because in cases where separate accounts is opened realisation i.e. purchase consideration is paid partly or wholly in cash.
CAclubindia
